Historic Two-Story Retail and Restaurant
For Sale
$1,550,000
6249 W Maine St, Spirit Lake, ID 83869
COMMERCIAL - Spirit Lake, ID
Property Size8,000 SF
Lot Size0.16 Acres
Price / SF$193.75
Days on Market89
Property Features for 6249 W Maine St
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Interior features
Handicap Facility, Handicap Restrooms
Accessibility
Accessible Approach with Ramp
Lot features
Level
View
City
Directions
From Hwy 41 west on Maine to building
Subdivision
05 - NW Kootenai Co
Standard status
Active
APN
S4500030012A
Size
8,000 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SPIRIT LAKE, LTS 12 & 13 BLK 30
Tax Annual Amount
3145
Legal Description
SPIRIT LAKE, LTS 12 & 13 BLK 30
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
commercial kitchen
remodeled kitchen
three bathrooms
private paved parking
Building Details
Year built
1907
Building materials
Brick, Block, Frame
Roof type
Rubber
Architectural style
Other
Listing Agency:
Kiemle Hagood
(208) 770-2590
Listed By:
Tom Villelli · License #SP41630
(208) 659-1821
Added: Jun 9
Changed: Aug 4
Last Checked: Sep 5 at 6:06AM
MLS# 26-5874
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic two-story commercial building is fully leased and located in the heart of Spirit Lake. “The Merc” has been fully renovated in recent years with upgrades to the HVAC, plumbing, electrical, and mechanical systems. Street level includes restaurant space with a commercial kitchen and an adjacent bar/retail suite. The second floor offers office and retail suites along with a full, remodeled kitchen and three bathrooms.
The building includes accessible features with an accessible approach with ramp and handicap restrooms, and it is served by public water and public sewer. Heating includes electric and natural gas with forced air, and cooling is provided by central air. Construction materials are brick, block, and frame.
On-site parking options include plenty of street parking along Maine St and private paved parking around the back accessible from the alley. The city park is immediately to the east.
The building includes accessible features with an accessible approach with ramp and handicap restrooms, and it is served by public water and public sewer. Heating includes electric and natural gas with forced air, and cooling is provided by central air. Construction materials are brick, block, and frame.
On-site parking options include plenty of street parking along Maine St and private paved parking around the back accessible from the alley. The city park is immediately to the east.
Key Highlights
- Fully leased two‑story commercial building in Spirit Lake
- Renovations include upgrades to HVAC, plumbing, electrical, and mechanical systems
- Street‑level commercial kitchen plus adjacent bar/retail suite
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,121
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,842,420
$1.8M
Cap Rate 7%
$1,316,014
$1.3M
Cap Rate 9%
$1,023,567
$1.0M
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.7K $15.96/SF
− Vacancy
−$4.9K −$0.61/SF
EGI
$122.8K $15.35/SF
− OpEx
−$30.7K −$3.84/SF
NOI
$92.1K $11.52/SF
Area
Kootenai County, ID
Vacancy
3.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,842,420
Cap Rate 7%
$1,316,014
Cap Rate 9%
$1,023,567
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.54M
NOI $92,121 @ 7.0% cap · market cap 5.94%
Second Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,640 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$1.74M
$1.52M – $2.02M
NOI $121,478 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
76
Shops & Services
4,767 visits/mo
0.3 miles
First Interstate Bank
Shops & Services
2,610 visits/mo
0.4 miles
Chevron
Shops & Services
1,685 visits/mo
0.2 miles
Demographics for 83869, ID
5,488
Population
2,197
Households
2.5
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
65.8 sq mi
ZIP Area
83
Density / Sq Mi
$64,625
Median Household Income
$42,419
Median Earnings
$737
Median Rent
$425,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully renovated two-story retail and restaurant building with HVAC, kitchen spaces, and multiple office suites.
Where is this retail space located?
The property is located at 6249 W Maine St Spirit Lake, ID.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully leased two‑story commercial building in Spirit Lake; Renovations include upgrades to HVAC, plumbing, electrical, and mechanical systems; Street‑level commercial kitchen plus adjacent bar/retail suite
